Budgeting

“ The Budget Bureau, is not concerned with policy save that of economy and efficiency. We are concerned with the routine expenditure of money, of proper conduct of routine business. It is our business to see that when money is appropriated by Congress along a certain line or policy with which we have nothing to do, that that money is spent as economically and as judiciously and carefully as possible in order to secure the greatest results along the line of the policy imposed by Congress. ”

“ These must be the priorities reflected in our budget. For in the end, a budget is more than simply numbers on a page. It is a measure of how well we are living up to our obligations to ourselves and one another. It is a test for our commitment to making America what it was always meant to be -- a place where all things are possible for all people. That is a commitment we are making in this, my first budget, and it is a commitment I will work every day to uphold in the months and years ahead. ”

“ If the Budget Law is not approved before the first day of the following fiscal year, the budget of the previous year shall be considered to be automatically prorogued until the new budget is approved.
⁠II. Once the General Budget of the State has been approved, only the Government may present Bills requiring an increase in public expenditure or a decrease in revenue, and any proposed law, or amendments to a Bill or proposed law involving an increase in expenditure or a decrease in revenue, shall require the approval of the Government before they are put through the normal channels. ”

“ Every Government frames its own expenditure for each year; every Government has to make its own provision to meet that expenditure. There is a Budget every year, and memorable as the Budget of my right hon. friend may be, far-reaching as is the policy depending upon it, the Finance Bill, after all, is in its character only an annual affair. But the rejection of the Budget by the House of Lords would not be an annual affair. ”

“ One may build a house or purchase a motor-car instead of going abroad. And whichever choice is made, related expenditures must be made in consequence for which, on the assumption of a definite amount of income, compensation must be made by curtailment of outlay at other points. What seems clear316 in general is that one's total budget is relative to the general plan and manner of life one deems for him the best possible and that this plan, more or less definitely formulated, more or less steadily operative, is what really determines how far expenditure shall go in this direction and in that. ”

“ America's prosperity requires restraining the spending appetite of the federal government. I welcome the bipartisan enthusiasm for spending discipline. I will send you a budget that holds the growth of discretionary spending below inflation, makes tax relief permanent, and stays on track to cut the deficit in half by 2009. (Applause.) My budget substantially reduces or eliminates more than 150 government programs that are not getting results, or duplicate current efforts, or do not fulfill essential priorities. The principle here is clear: Taxpayer dollars must be spent wisely, or not at all. ”

“ The object of thrift in spending is both to get the greatest value for our money now and to insure savings that will provide for the future. Every budget should make as definite provision for savings as for rent or clothing. The purpose of a budget and of accounts is to assure a surplus rather than a deficit. Successful men and women make it a practice always to spend less than they earn, no matter how little they earn, and they cannot be sure of this without planning ahead and keeping accounts. ”

“ Government programs are of such importance in the development of production and employment opportunities—domestic and international—that it has become essential to formulate and consider the Federal Budget in the light of the Nation's budget as a whole. The relationship between the receipts, expenditures, and savings of consumers, business, and government is shown in the accompanying table.
Considering the whole Nation, total expenditures must equal the total receipts, because what any individual or group spends becomes receipts of other individuals or groups. ”

“ My budget blueprint will restrain spending, yet meet growing needs with a reasonable 4 percent growth rate, which is a little more than inflation. After paying the bills, my plan reduces the national debt, and fast. So fast, in fact, that economists worry that we're going to run out of debt to retire. That would be a good worry to have.
Finally, along with funding our priorities and paying down debt, my plan returns about one out of every four dollars of the surplus to the American taxpayers, who created the surplus in the first place. ”

“ The great advantage of the new budget system is that it enables Congress to make a comprehensive plan of expenditure for the year and thus to hold the expenses within the estimated revenues.
Is it necessary for governments to borrow? Public Debts: Why Governments Borrow Money.—Nearly all nations, states, counties, cities, and even villages have debts. Why do they find it necessary to borrow money? Why should they not, like wise individuals, adopt a pay-as-you-go policy? ”

“ The revenue as a whole is fixed and is not voted annually by Parliament. Yet it is the practice in England to regard the income tax and the tea duties as variable elements to be increased or diminished, as occasion arises. Proposals for such changes are an essential part of the budget.
In the United States the budget is practically prepared in the House of Representatives. To the latter at the opening of each session of Congress the Secretary of the Treasury submits a book of estimates of expenditures to be made for the coming fiscal year. ”

“ The first problem on this side of expenditure is the due balancing of outlay by income. The financier has to “cover” his outlay. There is, further, the duty of establishing a proper proportion between the several forms of expenditure. Not only has there to be a strict control over the total national expense; supervision has to be carried into each department of the state. No one branch of public activity is entitled to make unlimited calls on the state’s revenue. ”

“ That there should be one single authority responsible for the making of all appropriations and that appropriations should be made not independently of each other, but with reference to one single comprehensive plan of expenditure properly related to the nation's income, there can be no doubt I believe the burden of preparing the budget must, in the nature of the case, if the work is to be properly done and responsibility concentrated instead of divided, rest upon the executive. ”

“ The expenses already recited total nearly seventy-five thousand dollars, or as much as my maximum income. And this annual budget contains no allowance for insurance, books, losses at cards, transportation, sundries, the purchase of new furniture, horses, automobiles, or for any of that class of expenditure usually referred to as "principal" or "plant." I inevitably am obliged to purchase a new motor every two or three years—usually for about six thousand dollars; and, as I have said, the furnishing of our city house is never completed. ”

“ The government budget is the financial structure within which the government conducts its business. It is the window through which the people should clearly see what the government intends to do, how it will operate and what its impact on the people and the economy will be in the coming fiscal year. ”

“ We can get them done, but only in the context of a realistic, responsible, balanced budget, one that maintains our fiscal discipline and makes the most of this great moment of prosperity. Now, that's a budget that makes sense, one that works for working Americans. ”

“ And that is we change the desired funding level that we do so through paying for it, just as each and every family does in this country. They had "pay as you go" for quite some time and the economy grew, jobs were created and the budget deficit shrank. ”

“ The term ‘‘budgetary effects’’ means the amount by which PAYGO legislation changes outlays flowing from direct spending or revenues relative to the baseline and shall be determined on the basis of estimates prepared under section 4. Budgetary effects that increase outlays flowing from direct spending or decrease revenues are termed `costs' and budgetary effects that increase revenues or decrease outlays flowing from direct spending are termed `savings'. Budgetary effects shall not include any costs associated with debt service. ”

“ The savings in my budget are critical in helping us to keep our economy growing and creating jobs. Now members of Congress need to come together and send me a budget that funds our priorities, ensures that taxes stay low, and keeps us on track to cut the deficit in half by 2009. ”

“ Finally, since all the practical work in the domain of national and financial economy cannot and should not proceed otherwise than in accordance with a strictly defined plan, it is the function of the financial administration to create and compile the state budget in such a manner that it might approximate as closely as possible the budget of the entire national economic life. ”

“ We have heard much about a balanced budget, and it is interesting to note that many of those who have pleaded for a balanced budget as the sole need now come to me to plead for additional government expenditures at the expense of unbalancing the budget. ”

“ When a sub-project implemented under this Act is still included in the special budget proposal in the next year, a report on its implementation performance in the past year shall also be submitted. Article 9 All agencies implementing the special budget under this Act shall do so in accordance with the budget implementation procedure; any part of the budget that is not implemented shall be returned to the national treasury as stipulated by the Budget Act, and may not be diverted to other use. ”

“ The President believes, and I think many -- I've certainly -- certainly many in Congress have discussed the notion of putting us on that path to fiscal responsibility, of making sure we're not wasting the taxpayers' money. And the President assembled a budget that makes a lot of tough choices that affect different parts of and different regions of the country, and understands that not everybody will agree with the individual tough choices. ”

“ Congress appropriates every cent in the budget and every single cent that makes up our deficit. Every year we consult with the people in the Cabinet and the agencies, the people who actually run these programs. We ask them what they need and then put together a responsible budget. Each year, Congress announces-sometimes before they even see it-that our budget is dead on arrival. Then they put together their own budget. ”

“ A government draws the breath of life from its finances, and it must balance its income and expenditures as any other going business concern if it expects to survive. It is my duty, then, to see that the Government of the Commonwealth live within its means and that it stands foursquare on a well balanced budget. ”

“ Writers on the theory of Public Finance seem to conceive the subject as though it were primarily a matter of equity in taxation and economy in expenditure. But to a Chancellor of the Exchequer finance is eminently practical with a problem to solve, namely, how to bring about an equilibrium in the Budget. ”

“ My budget will reduce our deficits not with aimless, reckless spending cuts that hurt students and seniors and middle-class families – but through the balanced approach that the American people prefer, and the investments that a growing economy demands. ”

“ Last Wednesday night I went on television to explain to you the budget decisions we must make. Our greatest challenge is bringing down deficit spending and doing it in a way which will keep our economy vigorous and expanding. ”

“ Are our government revenues increasing at a rate which gives hope that within a reasonably short period we shall be able to finance all our ordinary expenditures with current revenues and thereby balance our budget? ”

“ The National Assembly shall have the power to alter budget items, but shall not authorize measures leading to a decrease in public revenues or to expenses exceeding the estimated revenue amounts in the budget bill.
In submitting the multiyear budget framework, the special indebtedness law and the annual budget, the National Executive Branch shall explicitly state the long term objectives of fiscal Policy and explain how these objectives are to be achieved, in accordance with principles of responsibility and a fiscal balance. ”

“ The merit of our new segregated and classified budget is that it calls for the work needing to be done, as well as the cost of not having the work done, and that it shifts attention from the personality that requests the budget allowance. A circumscribed program means circumscribed budget. ”

“ It is well known, that the great minister who presides over our finances, took occasion, at opening the Budget in April last, to enter into a particular account of the state of the nation. In this account, he represented us as in a condition the most sound and happy; our trade and revenue flourishing; our common people well provided for; our debts and taxes light; our current specie sufficiently ample; our paper-circulation safe; and the Bank, in particular, as little less firm and durable than the world. ”